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Muscat: Policemen from the Zahira Governorate Police Headquarters have arrested a man of Asian nationality who deceived a woman and made her believe that the caller was an employee of a bank.
The victim was asked to update her bank details and provide a secret code (OTP), which enabled the caller to withhold 10,000 Romanian lei.
In another incident, the Criminal Investigation Department arrested an Asian national for being part of an international criminal gang conducting a phishing operation that called a group of people through the WhatsApp application and sent random messages informing them that they needed to update their bank details, which were then stolen and a large amount of money was stolen from the victims’ accounts.
Guidance on OTP and OTP-related fraud
One-time Password (OTP) is a two-factor authentication feature that prevents unauthorized access to private banking information.
Entering or providing this OTP is essential while performing various financial transactions like bill payments, online shopping, fund transfers, etc.
Cyber attackers use fraudulent means to obtain OTPs. These frauds can be carried out in a variety of ways.
Since OTPs are sent to the email ID or mobile number registered with the service provider, cyber attackers cannot get these OTPs without contacting the bank customers. They either steal the OTPs without the victim’s knowledge or use fraudulent means to trick the victim into revealing the OTPs.
OTP Fraud Prevention Technology
You can implement the following techniques to protect yourself from OTP fraud:
OTP scammers often use phone calls, text messages, or emails to trick victims into providing their OTP. They impersonate bank representatives, lenders, and other service providers, often creating a sense of urgency to obtain an OTP. It is important to note that legitimate institutions or companies will not ask you for an OTP unless you initiate a transaction that requires two-factor authentication.
Avoid sharing these details over the phone, writing them down or leaving them on an unprotected network.
Be wary of suspicious links
Scammers send malware-containing links under various pretexts like claiming cash price, offering discounts, etc. Some attackers also impersonate service providers. Never click on any such links as they can be used to read your device and capture the OTP. Always search for the app or website manually instead of clicking on suspicious links.
Avoid using unknown/unverified applications
When you download an app, you usually need to grant permissions to access your device’s camera, photo gallery, etc. Sometimes, approving these permissions is necessary for KYC formalities and SMS alerts. But if a suspicious app asks for access to these features, it can easily steal your OTP, etc. Therefore, you should only download legitimate apps and grant only necessary permissions.
Conduct transactions over a secure network
Public Wi-Fi networks are often risky. Scammers can use them to monitor your online activity and steal your sensitive information, including OTPs. When you conduct transactions over a secure network, such as your home Wi-Fi or a trusted Virtual Private Network (VPN), you prevent others from accessing your confidential data.
Update contact details
If you have changed your email ID or mobile number, make sure to update it with your banks and other financial institutions. Doing so will give you better control over your accounts. By updating your contact details promptly, you can redirect important alerts (like OTP, logins, etc.) to the new number and avoid unauthorized access.
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